Gold and Silver Price Hike: As the Russia-Ukraine war entered its 12th day, the gold prices in India increased to Rs 52,800 per kg for 24-carat gold. Likewise, the silver prices in India also witnessed a change.
The latest hike in the price of gold and silver metal is attributed to the escalating war between Russia and Ukraine.
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Gold prices in India for 22-carat gold is Rs 48,400 while for 24-carat gold per 10 grams, it costs Rs 52,800. Although the rates remained similar to those on Sunday the current price is just Rs 2,500 away from an all-time high.
The yellow metal in Delhi was Rs 48,400 per 10 grams for 22-carat gold, while in Chennai, it was on the higher side at Rs 49,700. The gold rate in Kerala was Rs 48,400, which is the same as in Delhi.
The crisis in Ukraine has entered its 12th day on March 7. However, there are no signs of abating. Russian President Vladimir Putin is looking to press ahead with the invasion unless Kyiv surrenders.
Russia-Ukraine crisis has also given a major setback to the equity markets and affected the oil prices which are soaring to a nearly 14-year high. It is adding a further boost to the already high inflation.